Most business owners are familiar with cloud accounting software now, but are they taking advantage of the numerous add-ons which can assist in making the running of the business easier, increasing revenue and saving time?
For business owners using cloud software, at a minimum they should:-
- operate an automatic bank feed;
- use the software to prepare invoices; and
- be able to carry out monthly reporting, if required.
As your accountants we can advise you on how to get your accounting systems up to date, incorporating all the above.
However, there is also a number of other apps that are very common but that cloud users are often not aware of. Some questions to ask yourself as a business owner :-
- Do you have a large number of purchase invoices that are being manually input into the software? Autoentry would assist with this and ensure that time is minimised on the process of inputting purchase invoices manually.
- Do you have a number of employees who have expenses which require to be input onto the software? Expensify is an expense management add-on which would assist with this process
- Do you have a large number of customers and are required to manually chase the customers for payment? Chaser is an app that will chase debtors pro-actively on your behalf to, again, minimise the time that is required by yourself as the business owner
- Do you require ease of payment from customers, being able to automatically match the receipt onto the software? Go Cardless and Stripe are two popular choices for ease of customer payments
- Is it important for the client to check out a customer before they work with them to ensure that they will receive payment? Satago is an app that looks at the credit risk of any company and can assist with invoice financing too
These are just a few of the add-ons that many business owners are now using routinely, to drive improved efficiency and better profits and cash flow.
We can provide you with a factfind form with questions to allow you to see which particular apps might assist you in your business.
If you would like us to provide you with this form, or would just like to have a chat about some of the options available to you, please just contact us to discuss.
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